Big Rock Brewery Income Trust
TSX : BR.UN

Big Rock Brewery Income Trust
BIG ROCK BREWERY LTD.

BIG ROCK BREWERY LTD.

November 01, 2006 12:26 ET

Big Rock Brewery Income Trust Comments on Government of Canada Taxation Announcement

CALGARY, ALBERTA--(CCNMatthews - Nov. 1, 2006) - Big Rock Brewery Income Trust (TSX:BR.UN) (the "Trust") wishes to inform its unitholders of an announcement made by the Honourable Jim Flaherty, Canadian Minister of Finance, late yesterday detailing proposed changes to the taxation of Canadian income trusts.

The relevant measures announced include a proposed tax on distributions paid by publicly traded income trusts and limited partnerships, and will result in less after-tax cash being available for payment to all unitholders. As an existing income trust, it is important to note that these measures will not apply to the Trust until January 2011. Under the Government's proposal the existing tax treatment of distributions will remain in effect during the four-year grace period to 2011.

The Trust is currently considering the effects of the Government's proposal on its previously announced internal reorganization. The Trust does not intend to proceed with a special meeting of unitholders to consider the implementation of the internal reorganization until all aspects of the Government's proposal are properly considered.

Contact Information

  • Big Rock Brewery Ltd.
    Ed McNally
    Chairman
    (403) 720-3239
    (403) 236-7523 (FAX)
    or
    Big Rock Brewery Ltd.
    Ken Barbet
    President and Chief Executive Officer
    (403) 720-3239
    (403) 236-7523 (FAX)
    or
    Big Rock Brewery Ltd.
    Tim A. Duffin, C.A.
    Chief Financial Officer
    (403) 720-3239
    (403) 236-7523 (FAX)